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Current Affairs 24 July 2020

Daily Current Affairs 24 July 2020: We have collected the latest current affairs for 24 July 2020 that are important for all competitive exams like Bank, SSC, IBPS, SBI exams. The GK current affairs will help you score more in these competitive exams. Improve your general knowledge with our daily online current affairs. You can also read the daily current affairs on our mobile app.

National News

Actor Sonu Sood Launches ‘Pravasi Rojgar’ app to help migrants find job opportunities across India

In order to help the migrant workers find right job opportunities in various sectors across the country, a new ‘Pravasi Rojgar’ app has been launched.
This online platform is the brainchild of Bollywood actor Sonu Sood, who launched the free online platform on 23 July 2020 in Mumbai.
The initiative will be supported by community outreach in the villages to find the right employment opportunities for migrant workers in different parts of the country.
The app features job opportunities from over 500 reputed companies related to construction, apparel, healthcare, engineering, BPOs, security, automobile, e-commerce and logistics sectors.
Support centres, with a 24-hour helpline, have been set up in seven cities including Delhi, Mumbai, Bangalore, Hyderabad, Coimbatore, Ahmedabad and Thiruvananthapuram.
Apart from this, the platform will also offer specific job training programmes like spoken English.

DRDO successfully test-fires HELINA ‘Dhruvastra’ from ITR Chandipur

India has successfully conducted three flight tests of its indigenously developed anti-tank guided missile ”Dhruvastra” from the Integrated Test Range at Chandipur in Odisha, in direct and top attack mode.
The sophisticated missile was test-fired twice on July 15 and once on July 16, 2020. This was done without a helicopter.
The missile would soon be tested from the ALH after a couple of more trials from the ground-based launcher.

Dhruvastra

The helicopter-launched Nag Missile (HELINA), an air-launched version of the Nag missile (with extended range), has been named as ‘Dhruvastra’ anti-tank guided missile (ATGM).
It is a third-generation fire and forget class anti-tank guided missile (ATGM) system mounted on the Advanced Light Helicopter (ALH).
The ‘Dhruvastra’ anti-tank guided missile will be fired from the indigenous `Dhruv’ Advanced Light Helicopter (ALH).
It has been developed by the Defence Research and Development Organisation (DRDO) and is one of the most advanced anti-tank weapons in the world.
The system has all-weather day and night capability and can defeat battle tanks both in direct hit mode as well as top attack mode. The missile will further help strengthen the defence capabilities of the country.

International News

China launches its first independent Mars mission ‘Tianwen-1’

On 23 July 2020, China launched an unmanned probe named as ‘Tianwen-1’ to Mars in its first independent mission to another planet.
The Tianwen-1 (or Quest for Heavenly Truth 1) was launched on a Long March-5 carrier rocket from the Wenchang Space Launch Centre on the southern island of Hainan.
If the launch is successful, it will make China the first country to orbit, land and deploy a rover in its inaugural mission.
The probe is expected to reach Mars in February 2021. It will then attempt to deploy a rover to explore the planet for 90 days.
After that Tianwen-1, will look for underground water as well as evidence of possible ancient life.

Nicaragua becomes 87th country to sign International Solar Alliance Framework Agreement

Nicaragua has become the most recent country to join the International Solar Alliance (ISA) Framework Agreement, an initiative led by India to promote sustainable energy.
The agreement on behalf of the Central American country Nicaragua was signed by the Permanent Representative to the United Nations Jaime Hermida Castillo at the Permanent Mission of India to the United Nations in New York on 22, July 2020.
With this, Nicaragua has become the 87th country to sign the agreement.

Turkmenistan gets WTO observer status

Turkmenistan has been granted the observer status in the World Trade Organization (WTO) on 22 July 2020, at a meeting of the WTO General Council in Geneva.
With this, Turkmenistan becomes the 25th observer of the organization.
The WTO now has 164 members and 25 observer governments.
The observer status would help Turkmenistan develop its economy, promote multilateral cooperation, attract foreign investment and develop international trade relations.
- - World Trade Organization (WTO) headquarter: Geneva, Switzerland
  - Turkmenistan Capital – Ashgabat, Currency – Turkmenistan manat

Appointments

Shri Arun Kumar, DG/RPF nominated as the Vice-Chairman of the International Union of Railways Security Platform

Shri Arun Kumar, Director General of the Railway Protection Force (RPF), has been nominated to be the Vice-Chairman of the Security Platform of the Paris-based Union Internationale Des Chemins/International Union of Railways (UIC).
UIC is a French word meaning International Union of Railways.
Mr Kumar will serve as VC of the UIC Security platform from July 2020 to July 2022.
Thereafter he will then take over as Chairman of the Security Platform from July 2022 to July 2024.
The UIC Security Platform is empowered to develop and formulate analysis and policy positions on behalf of the rail sector in matters relating to security of persons, property and installations.

Sumit Deb appointed as CMD of National Mineral Development Corporation (NMDC)

Sumit Deb has been appointed as the next Chairman and Managing Director (CMD) of National Mineral Development Corporation (NMDC), an Indian state-controlled mineral producer.
Deb will have tenure till February 28, 2023, i.e. the date of his superannuation.
He will succeed N Baijendra Kumar who will superannuate in July 2020.
Presently, Deb is serving as the Director (Personnel) in the NMDC.

Prakash Chandra Kandpal Takes Charge as new MD & CEO of SBI General Insurance

Non-life insurer SBI General Insurance has appointed Prakash Chandra Kandpal as its new managing director and chief executive officer.
His appointment is effective from 20 July 2020.
Kandpal succeeds Pushan Mahapatra, who has been appointed as director (strategic investments & digital initiatives).
Kandpal has been with SBI General Insurance as the deputy CEO since June 2019.

Rahul Bajaj steps down as Chairman of Bajaj Finance, son Sanjiv to take over

Renowned business tycoon Rahul Bajaj, the current Chairman of Bajaj Finance Ltd, has decided to step down from his position and hand over the reins to his son Sanjiv Bajaj, as part of succession planning at the non-banking financial company.
Mr Bajaj will be demitting the office as chairman with effect from close of business hours on 31 July 2020.
His son Sanjiv Bajaj will be new non-executive chairman of Bajaj Finance from 01 August 2020. Presently he is the vice chairman of the company.
Rahul Bajaj has been at the helm of the company since its inception in 1987 and the group for over five decades.
However, Rahul Bajaj will continue to serve as a non-executive non-independent director.

Government extends tenure of NCLT Acting President BSV Prakash Kumar for one month

The Ministry of Corporate Affairs (MCA), Government of India, has extended the tenure of the Acting President of the National Company Law Tribunal (NCLT) BSV Prakash Kumar for one more month, with effect from 5 July 2020.
This is the second extension given to BSV Prakash Kumar.
He was appointed as Acting President of NCLT for a period of three months from January 5 after the retirement of Justice MM Kumar as NCLT President.
In April 2020, the government had extended the tenure of BSV Prakash Kumar for three months, which ended on July 5.
However, since no permanent President has yet been finalized, so the government has further extended his tenure for a month till 5 August 2020.

NFRA constitutes technical advisory committee under the chairmanship of Prof. R Narayanaswamy

Professor R Narayanaswamy, faculty of the Finance & Accounting discipline at the Indian Institute of Management (IIM), Bangalore, has been appointed as the Chair of the Technical Advisory Committee of the National Financial Reporting Authority (NFRA), the independent accounting and auditing regulator set up by the central government.
The Technical Advisory Committee (TAC) comprises seven members.
Functions of TAC
- Advise the National Financial Reporting Authority (NFRA) on how it can fulfill its mandate to protect the public interest and the interests of investors, creditors and other users of corporate financial statements.
- Advise the Executive Body of the NFRA on issues related to the drafts of accounting standards and auditing standards.
- Advise on development of measures of audit quality;
- Advise on suitable methods for promoting awareness (a) relating to compliance with accounting and auditing standards and (b) of the role of the NFRA in protecting investors through independent auditor regulation.
Other members of the TAC are:
1. Vidya Rajaram, chartered accountant;
2. Gargi Ray, CFO of Infosys Consulting Group;
3. Anantha Narayanan, former head of equity research at Credit Suisse and Morgan Stanley;
4. Shriram Subramanian, MD, InGovern;
5. S Subramanian, CFO, Titan Company; and
6. Suhas Tuljapurkar, Managing Partner, Legasis

Banking & Economy

India’s GDP to contract 6% in FY21: DBS

Singaporean brokerage firm DBS Bank Ltd has estimated that the Indian economy will contract by 6 percent in FY21 (2020-21).
In its previous forecast,, DBS had estimated – 4.8 percent growth for FY21.
The reason for this downward revision is the prolonged sub-normal reopening as the country is yet to stabilize the infection curve and the pandemic is going to take a deeper economic bite.

Award

Greta Thunberg awarded Inaugural Gulbenkian Prize for Humanity worth $1.15M

Swedish teen climate activist Greta Thunberg has won the inaugural Gulbenkian Prize for Humanity, given by the Portugal-based Calouste Gulbenkian Foundation.
Thunberg was selected from 136 nominees from 46 different countries for this award for the way she has been able to mobilise younger generations for the cause of climate change.
The 17 year old is pledging to donate $1.15 million award money to different organizations and projects globally who are working to help people on the front line, affected by the climate crisis and ecological crisis.
The Gulbenkian Prize for Humanity aims to recognise people, groups of people and/or organisations from all over the world whose contributions to mitigation and adaptation to climate change stand out for its novelty, innovation and impact.

Important Days

National Broadcasting Day: 23 July

In India, the “National Broadcasting Day” is observed on July 23 every year, to celebrate the radio, which has been an important part in people’s life in India, both as an easy medium of entertainment along with news.
It is celebrated because it was on this day in the year 1927, that the first-ever radio broadcast in the country went on the air from the Bombay Station under a private company, the Indian Broadcasting Company.

Obituary

Former Australian test cricketer Barry Jarman passes away at 84

Former Australian test wicketkeeper and ex-International Cricket Council match referee Barry Jarman has passed away. He was 84.
Jarman made his test debut in 1959, and had captained Australia in one test on the 1968 Ashes tour of England.
Overall Jarman played in 19 tests for Australian team and scored two half-centuries among his 400 runs at an average of 14.81.

Daily Current Affairs – 24 July 2020